Banking Agencies Finalize Revisions to Streamline the Call Report
The three federal banking agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), are finalizing revisions to streamline the “Call Report” as part of their efforts to reduce data reporting and other burdens for financial institutions. The changes finalized by the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency would remove or consolidate a number of data items and add a new or raise certain existing reporting thresholds in the three versions of the Call Report. The revisions, which were proposed in November 2017, will take effect as of the June 30, 2018, report date.
Combined with prior revisions to the Call Report, approximately 51 percent of required data items for smaller, less complex institutions, and 28 percent of required data items for all other institutions have been changed.
The agencies will conduct a webinar for bankers on April 5, 2018, to discuss the Call Report revisions and other reporting changes.
All institutions, regardless of size, submit a quarterly Call Report that includes data used by regulators to monitor the condition, performance, and risk of individual institutions and the industry as a whole.
Call Report Federal Register Notice (PDF)
The FFIEC was established in March 1979 to prescribe uniform principles, standards, and report forms and to promote uniformity in the supervision of financial institutions. It also conducts schools for examiners employed by the five federal member agencies represented on the FFIEC and makes those schools available to employees of state agencies that supervise financial institutions. The Council consists of the following six voting members: a member of the Board of Governors of the Federal Reserve System; the Chairman of the Federal Deposit Insurance Corporation; the Director of the Consumer Financial Protection Bureau; the Comptroller of the Currency; the Chairman of the National Credit Union Administration; and the Chairman of the State Liaison Committee.